March 24, 2017

Govt to Review Group Life Insurance Policy for Civil Servants

The federal government has still not payed the N5.4billion premium of its civil servants in the country six months after it was due for renewal. The Head of the Civil Service of the Federation, HOCSF, and the Bureau of Public Procurement, BPP, have selected 20 underwriters and 108 insurance brokers […]
March 24, 2017

Ivory Finance debt: We’ll prove our case in court – SIC

Management of SIC Insurance Company Limited has assured its customers and stakeholders to remain calm following a case the company is battling in court against non-bank financial institution, Ivory Finance. The two companies have been in a long standing legal and board room battle over the debt which came up […]
March 24, 2017

FBNInsurance declares N3bn profit

FBNInsurance Limited has released its financial report for the year ended 2016 as approved by the industry regulator, National Insurance Commission (NAICOM). According to figures obtained from the published financial statements, the company’s profit before tax (PBT) increased by 70 per cent from N1.8 billion in 2015 to N3.13 billion […]
March 24, 2017

Firms pay 28% of N356b premium income as claims

Of an estimated Gross Premium Income (GPI) worth N356 billion generated by the insurance industry last year, 28 per cent was paid out as claims to help individuals and businesses to recover from their losses, a report by Agusto & Co has shown. Agusto, a pan-African credit rating agency in […]